By the age of 14 Tarasova had become a member of the Second Studio of the Moscow Art Theatre. She rose quickly to become a supporting actress, and by the time the company toured England and the United States (1922–24) she was playing such roles as Anya in The Cherry Orchard, Sonia in Uncle Vanya, Irina in The Three Sisters, and Grushenka in The Brothers Karamazov. She continued to develop her talents through such portrayals as that of Negina in Aleksandr N. Ostrovsky’s Talents and Admirers and Varvana in Maxim Gorky’s The Summer People.

Her abilities reached full flower in the 1930s. She enjoyed outstanding success on the stage with her distinguished portrayals of the title role in Anna Karenina (1937) and of Masha in The Three Sisters (1939), and her film appearances as Katerina in The Thunderstorm (1934) and Ekaterina in Peter the Great (1937–39) earned equivalent accolades. In 1937 Tarasova became a People’s Artist of the U.S.S.R., and in 1973 she was declared a Hero of Socialist Labour. She was awarded five State Prizes, two Orders of Lenin, and many other medals and orders.